127 Broad StBurlington, NJ 08016
- Residential income homes
- 3,560 SF
Property Details for 127 Broad St
- Year built
- 1870
- Lot size
- 0.13 AC
- Property size (Sq ft)
- 3,560 SF
- Zone code
- C-1
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 05 00134-0000-00014
- APU
- 500134000000014
Description
This exceptional investment opportunity encompasses two adjacent properties at 127 and 129-131 E Broad Street in Burlington, NJ, totaling six units and offering significant upside. The package includes 127 E Broad Street, a four-unit building featuring four one-bedroom apartments. Each apartment boasts individual heating and hot water systems, with tenants responsible for electricity and gas. The landlord covers water and sewer expenses. Currently, three units are occupied, and one is vacant, providing immediate rental income. The second property, 129-131 E Broad Street, is a completely renovated building currently configured as a large five or six-bedroom house and a small office space. This presents a unique chance to convert the residential portion into additional apartments while maintaining the existing first-floor commercial space. The potential for increased rental income is substantial. The combined properties sit on a 0.19-acre lot. The asking price for this package deal is $600,000. The properties are sold "as is," and the buyer is responsible for all necessary inspections prior to closing, including but not limited to a Certificate of Occupancy inspection and any other required inspections to ensure title transfer. Prospective buyers should independently verify all zoning regulations with the Burlington City Zoning Officer to confirm the feasibility of any planned conversions or additions. This is a rare chance to acquire a multi-family property with immediate cash flow and significant future development potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $815,200
- 6.5%
- $752,492
- 7%
- $698,743
-
Comparable approach
- Method
- Valuation
- Relative Method
- $720,982
- Geo Method
- $720,982
-
Alternative Use
- Use
- Valuation
- Residential
- $752,492
- Hospitality
- $689,279
- Educational
- $573,472
- Medical
- $593,195
- Retail
- $892,068
Location Insight
- City
- Burlington
- County
- Burlington
- State
- New Jersey
- Latitude
- 40.0785
- Longitude
- -74.8557
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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